What impact will rare earth raw materials have in the context of the conflict between Russia and Ukraine?
What impact will rare earth raw materials have in the context of the conflict between Russia and Ukraine?
At a time when the supply chain crisis caused by the COVID-19 has not yet recovered, the international community has ushered in the Russian Ukrainian war. Against the background that rising prices may become a major concern, this impasse may extend beyond gasoline prices, including industrial areas such as precious metals. Next, Mr. Chen of Tongli magnetic industry will take you to discuss the possible impact of this situation on the terminal industry using rare earth metals, as well as the expected impact on key projects and price fluctuations.
1、 Problems in the engineering / information technology industry may harm the interests of the United States and Europe
The war has created widespread uncertainty and serious concerns not only in securing talent, but also in manufacturing the raw materials needed for information technology (it) and communication infrastructure. For example, Ukraine's divided territories in the Donbas region are rich in natural resources. At present, mining operations in these regions have been stopped, which may lead to significant fluctuations in rare earth metal prices in the region.
2、 Rising global defense spending has led to rising prices of rare earth metals
In view of the high degree of uncertainty caused by the war, countries all over the world are trying to strengthen their national defense and military capabilities, especially in areas under Russian influence. For example, in February 2022, Germany announced that it would allocate 100 billion euros (US $113 billion) to establish a special armed forces fund to maintain its defense expenditure at more than 2% of GDP.
These developments will have a significant impact on the prospects for rare earth manufacturing and pricing. The above measures further strengthen the country's commitment to maintaining a strong national defense force and supplement several key developments in the past, including an agreement reached with Australian high-tech metal manufacturer northern minerals in 2019 to mine rare earth metals such as neodymium and praseodymium.
3、 Generally speaking, as the tension between Ukraine and Russia continues, the price of rare earth metals will soar. Please also be prepared and prepare the goods in advance.
Tongli Magnetic Industry Co., Ltd.
Address: No. 5, Changfu Road, Ludong community, Humen Town, Dongguan City, Guangdong Province
Contact: Lucid
Tel: +86-769-82882585 +86-18028919951
E-mail: lucid@tlmagnet.com
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